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2026 Statistics

Key Facts: SIOR Exam

3,900+

SIOR Members Worldwide

50+ countries

$2,000

Exam Fee

Comprehensive Membership Exam

140 + 3

Exam Format

Multiple-choice + essays

5 years

Minimum Experience

Industrial/office brokerage

$1,345

Annual Dues

Plus chapter dues

6

Specialist Categories

Industrial, Office, Dual, Advisory, Sales Mgmt, Executive

The SIOR Comprehensive Membership Entrance Exam consists of 140 multiple-choice questions plus 3 short essays. The $2,000 exam is paper-based and proctored at a local REALTOR board. Candidates must also complete the online Ethics & Professional Standards course. SIOR is held by approximately 3,900 members in over 50 countries and is considered the most prestigious designation in industrial and office real estate brokerage.

About the SIOR Exam

The SIOR Comprehensive Membership Entrance Exam is a paper-based knowledge test for commercial real estate professionals seeking the prestigious SIOR designation. The exam covers industrial and office leasing, investment and financial analysis, market analysis, tenant and landlord representation, property types, construction, sales skills, environmental issues, and SIOR Professional Standards. It serves as an alternative to attending the SIOR Next Level Series coursework.

Questions

140 scored questions

Time Limit

Approximately 4 hours

Passing Score

Criterion-referenced (set by SIOR)

Exam Fee

$2,000 (Society of Industrial and Office Realtors (SIOR))

SIOR Exam Content Outline

20%

Industrial & Office Leasing

Lease types and structures, NNN vs gross leases, percentage rent, expense stops, escalation clauses, operating expense pass-throughs, tenant improvement allowances, CAM charges

20%

Investment & Financial Analysis

Cap rates, NOI calculations, cash-on-cash returns, IRR, NPV, DCF analysis, debt service coverage ratio, leverage analysis, mortgage calculations, investment yields

15%

Market Analysis & Valuation

Supply/demand analysis, absorption rates, vacancy analysis, comparable sales, income approach, cost approach, highest and best use, market surveys

15%

Tenant & Landlord Representation

Site selection criteria, space planning, lease negotiation strategies, tenant needs analysis, landlord retention, exclusive agency, RFP process, representation agreements

10%

Property Types & Construction

Industrial building types (warehouse, flex, manufacturing), office classifications (A/B/C), clear height, dock-high loading, build-to-suit, LEED, zoning, environmental

10%

Sales & Negotiation Skills

Negotiation strategies, client relationship management, prospecting, business development, marketing, due diligence, transaction management

10%

Ethics & Professional Standards

SIOR Code of Ethical Principles, fiduciary duty, disclosure requirements, agency relationships, conflict of interest, fair dealing, NAR Code of Ethics

How to Pass the SIOR Exam

What You Need to Know

  • Passing score: Criterion-referenced (set by SIOR)
  • Exam length: 140 questions
  • Time limit: Approximately 4 hours
  • Exam fee: $2,000

Keys to Passing

  • Complete 500+ practice questions
  • Score 80%+ consistently before scheduling
  • Focus on highest-weighted sections
  • Use our AI tutor for tough concepts

SIOR Study Tips from Top Performers

1Focus on industrial building types and office classifications — know the key differences between warehouse, flex, and manufacturing space, and Class A/B/C office distinctions
2Master lease structure calculations including NNN, gross, modified gross, percentage rent, expense stops, and CAM reconciliation
3Understand investment metrics cold: cap rate, NOI, cash-on-cash return, IRR, NPV, and debt service coverage ratio formulas and when each applies
4Study tenant and landlord representation from both sides — know the RFP process, site selection criteria, and negotiation strategies
5Review SIOR's Code of Ethical Principles thoroughly — the ethics section is a core exam component and requires completing the online course separately

Frequently Asked Questions

What is the SIOR Comprehensive Membership Entrance Exam?

The SIOR Comprehensive Membership Entrance Exam is a paper-based knowledge test that serves as one pathway to meet the education requirement for the SIOR designation. It consists of 140 multiple-choice questions plus 3 short essays covering industrial and office real estate topics including leasing, appraisal, tenant/landlord representation, sales skills, construction, investment, environmental issues, and SIOR Professional Standards. The exam fee is $2,000 and must be taken with a proctor at a local REALTOR board.

What are the requirements to earn the SIOR designation?

To earn the SIOR designation, candidates must meet five criteria: (1) a minimum of 5 years of documented industrial and/or office real estate brokerage experience, (2) meet minimum Gross Fee Income (GFI) requirements for 3 out of the last 4 years (market-specific thresholds), (3) obtain 2 endorsements from SIOR designees in the local chapter, (4) complete the ethics requirement, and (5) fulfill the education requirement through either the Next Level Series course or the Comprehensive Membership Entrance Exam.

How much does it cost to become an SIOR?

The total cost to become an SIOR includes: Application Fee ($175), Initiation Fee ($725, which covers your first World Conference registration), Annual Dues ($1,345, prorated in the first year), Chapter Dues (varies by chapter), and either the Next Level Series course ($990-$1,650) or the Comprehensive Membership Entrance Exam ($2,000). The online Ethics & Professional Standards course is a separate fee. Total first-year investment is typically $3,000-$5,000 depending on the education path chosen.

What is the difference between SIOR and CCIM?

SIOR and CCIM are both prestigious commercial real estate designations, but they serve different specialties. SIOR focuses specifically on industrial and office real estate brokerage — it requires demonstrated production (Gross Fee Income) and is geared toward active transaction brokers. CCIM focuses on commercial real estate investment analysis across all property types and requires completing four core courses (CI 101-104) plus a comprehensive exam. Many top CRE professionals hold both designations. Having a CCIM designation in good standing earns 3 elective credits toward the SIOR education requirement.

Can I earn the SIOR designation without taking the exam?

Yes. The Comprehensive Membership Entrance Exam is only one of three pathways to meet the education requirement. You can also attend the SIOR Next Level Series (formerly Broker Bootcamp), a 2-day in-person course, plus complete the online Ethics & Professional Standards course. Additionally, experienced brokers who meet 100% of GFI with 15+ years of experience, or superstars who meet 200% of GFI with 5+ years of experience, are exempt from the education requirement entirely (though they must still complete the Ethics course).